Other Republican Candidates Ride Paul's Anti-Fed Bandwagon

Texas Rep. Ron Paul has distinguished himself among Republicans in recent years by calling for elimination of the Federal Reserve. But now others are joining in with attacks on the Fed, The Hill reports.

Among the most prominent Fed critics are two of Paul’s fellow presidential candidates: Texas Gov. Rick Perry and Minnesota Rep. Michele Bachmann.

Perry launched an incendiary broadside against Fed Chairman Ben Bernanke this week, saying it would be “almost treasonous” for the central bank to ease monetary policy further and that Texans would be happy to “treat him ugly” for doing so.

Perry argued that the Fed’s massive money supply expansion has debased the dollar. Bachmann has similarly blasted the Fed for “terrible, grievous errors” in policy.

And how does Paul view other Republicans jumping on the anti-Fed bandwagon?

“He kind of looks at it as, it’s good to see other candidates finally catching up by at least paying lip service to some of this,” Paul spokesman Gary Howard said. “Unfortunately, we’re looking at people’s records, and they don’t have much of a record in dealing with this issue.”

Tea party and establishment Republicans alike are lighting into the Fed.

“Americans have come to have an unhealthy distrust of all government institutions, including the Federal Reserve, and politicians like Perry and Paul are tapping into it,” Mark McKinnon, a veteran GOP consultant told The Hill. “I think for Paul it is a policy issue and for Perry it is a political issue.”

Meanwhile, Paul made light of Perry’s comments in a New Hampshire campaign event Wednesday, Politico reports. "Now they have this other governor, I can't remember his name," Paul quipped.

"He realizes that talking about the Fed is good, too. But he makes me sound like a moderate. I have never once said Bernanke has committed treason. But I have suggested very strongly that the Federal Reserve system and all the members have been counterfeiters for a long time."

Paul is disappointed that his second-place finish in last Saturday’s Iowa Straw Poll — he trailed victor Michele Bachmann by only 152 votes — hasn’t brought him more media attention. "The media coverage on Sunday morning was less than perfect for us," Paul said.

But he lavished praise on an unlikely media source, saying: "Then there's this guy on the Comedy Central or something, Jon Stewart. I think I've been on his program once or twice, and I think he's thinking about getting me on again. Isn't it great that somebody like that comes to defend us?"

Texas Rep. Ron Paul has distinguished himself among Republicans in recent years by calling for elimination of the Federal Reserve. But now others are joining in with attacks on the Fed, The Hill reports. Among the most prominent Fed critics are two of Paul s fellow...